Costa Rica: Unemployment Rate Falls to 19%

For the moving quarter from November 2020 to January 2021, the unemployment rate in the country decreased to 19%, which is slightly lower than the 20% reported for the period from October to December last year.

Friday, March 5, 2021

For the quarters from the first quarter (January to March 2020) to the last available quarter, the country has experienced a situation in the labor market that has generated significant impacts in the main indicators, as a result of the measures that generate restriction to the labor market and the labor situation caused by the Covid-19 health emergency, informed the National Institute of Statistics and Census (INEC).

Check out the "System for monitoring markets and economic situation in Central American countries", elaborated by CentralAmericaData.

The official report states that "... the employed population was estimated at 1.98 million people and in comparison with the same period of the previous year, there was a statistically significant reduction of 220 thousand people.

In this quarter, the unemployed population was 468 thousand people, an increase of 158 thousand people compared to the same mobile quarter of the previous year.

The population unemployed from the workforce was 1.57 million people for this quarter November-December 2020 and January 2021. Compared to the same quarter of the previous year, it increases by 111 thousand people.

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Costa Rica: Unemployment Ended 2020 on a Downward Trend

February 2021

As a result of the crisis caused by the covid-19 outbreak, during the second quarter of 2020 the unemployment rate at national level rose to 24%, for the period from July to September it decreased to 22% and in the last three months of the year it fell to 20%.

Regarding the unemployed population, for the IV Quarter of 2020 it was estimated at 488 thousand people, of these 240 thousand are men and 248 thousand women, the unemployed population increased by 178 thousand people on a year-on-year basis, 97 thousand men and 81 thousand women, informed the National Institute of Statistics and Census (INEC).

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February 2020

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For the second quarter of 2019, there was a significant increase in the net labor participation rate of 63%, with a 2.1 pp. increase over the same period of the previous year.

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Results for the second quarter of 2018 did not show significant variations compared to the 8.5% registered in the second quarter of last year.

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